Energy Select Sector SPDR
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|It was a fourth consecutive positive week for the Energy Select Sector SPDR (XLE). During the week, the XLE gained 1.39 points, or 1.83%, and closed at 77.15 on Friday, October 05, 2018. Weekly volume was -9% below average. |
Long-term trend: [See XLE long-term trend chart]
A long-term uptrend had started on January 20, 2016 at 49.93 and reached 79.42 on May 22, 2018. XLE gained -29.49 points, or -59.06%, in 121 weeks. The chart has formed a Descending Triangle chart pattern. The trend support level is at 69.46 and resistance is at 79.22. A Descending Triangle is a variation of triangle formation that has a flat support line and falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. A Descending Triangle usually represents a distribution stage in bearish market. A Descending Triangle is considered to be a continuation pattern, especially in a down trend, but it may also mark a reversal in an uptrend. Use the following link to access a Descending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Descending Triangle pattern in a long-term trend.
Medium-term trend: [See XLE medium-term trend chart]
A medium-term uptrend had started on August 21, 2017 at 61.80 and reached 79.42 on May 22, 2018. XLE gained -17.62 points, or -28.51%, in 39 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 66.75 and resistance is at 81.99. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
Weekly Technical Indicators: [See XLE weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since July 27, 2018. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.
Short-term trend: [See XLE short-term trend chart]
A short-term uptrend had started on September 7, 2018 at 71.78 and reached 77.72 on October 3, 2018. XLE gained -5.94 points, or -8.28%, in 26 days. The price is now at the 9.60% retracement level.
Daily Technical Indicators: [See XLE daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is above its signal line since September 13, 2018. This is an indication that the short-term trend is up.
A Parabolic SAR (stop and reversal) indicator (77.8) comes close to the price (77.15). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.